LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Nado against Lighter−0.050%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$170.169% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.051%+$5 on $10k

Price spread, last 3 days (all we have)+0.303%+$30 · spread now −0.050%, 7d avg +0.007%

Together, before fees+0.353%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.057% cheaper against Lighter than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.129	0.0096	pay 0.0012% / 1h	4m 00s	$2.0M	$2.7M	10x
Short	Nado LINK-PERP	13.122	0.0100	get 0.0012% / 1h	4m 00s	$400K	$310K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee NadobpOrdersPrice spread, now −0.050%Rate

Funding earned: $0.84
Price spread: −0.050% → +0.007%: −$5.73
Slippage, 4 orders: −$9.86
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$21.75
Costs to cover: 0.169%
Break-even: 188.2 days

Slippage from Lighter: live order book, 3 min ago; Nado: live order book, 9 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 3 min ago	1.13 bp	1.4 bp −$1	6.8 bp −$68	70.5 bp −$7,053	doesn't fit
Sell Nado live order book, 9 min ago	0.38 bp	7.5 bp −$8	17.3 bp −$173	doesn't fit	doesn't fit

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.129	−0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.128	−0.005%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.134	+0.040%	$727K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.128	−0.008%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.093	−0.274%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.553%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.125	−0.031%	$133K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.129	long leg	$2.0M	$2.7M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.118	−0.086%	$32K	$3K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.122	−0.050%	$400K	$310K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.132	+0.024%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.121	−0.060%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.137	+0.060%	$122.1M	$305.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.136	+0.053%	$84.7M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.135	+0.045%	$27.6M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.131	+0.015%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.132	+0.022%	$130.2M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.130	+0.007%	$36.3M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.133	+0.030%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.136	+0.053%	$54.7M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.133	+0.030%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.086	−0.330%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.097	−0.243%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.107	−0.168%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.100	−0.221%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.128	−0.008%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.128	−0.008%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.136	+0.053%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.128	−0.008%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.104	−0.188%	$645K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.126	−0.024%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.132	+0.025%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.125	−0.031%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0212%	1h	13.146	+0.129%	$363K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.096	−0.252%	$5.2M	$16.2M	75x	as long as short
Hyperliquid LINK	+0.0290%	1h	13.148	+0.144%	$78.0M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.123	−0.044%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.138	+0.069%	$6.9M	$8.3M	50x	as long as short
Phemex LINKUSDT	+0.0483%	8h	13.147	+0.136%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0518%	1h	13.120	−0.073%	$347K	$48K	10x	as long as short